Transaction deposit

Transaction deposit

In the United States transactions deposit is a term used by the Federal Reserve for checkable deposits and other accounts that can be used directly as cash without withdrawal limits or restrictions. They are the only bank deposits that require the bank to keep reserves at the central bank. This is in contrast to "time deposits" (aka term deposits).

Regulatory

Transaction accounts include all deposits against which the account holder is permitted to make withdrawals by negotiable or transferable instruments, payment orders of withdrawal, or telephone or preauthorized transfers for the purpose of making payments to third persons or others. However, accounts subject to the rules that permit no more than six preauthorized, automatic, or other transfers per month (of which no more than three may be by check, draft, debit card, or similar order payable directly to third parties) are savings deposits, not transaction accounts.

ee also

*Checkable deposits
*Money supply
*Time deposits

External links

* [http://woodrow.mpls.frb.fed.us/info/policy/res-req.cfm Federal Reserve Bank of Minneapolis - About the Fed - Reserve Requirements of Depository Institutions]


Wikimedia Foundation. 2010.

Игры ⚽ Нужно решить контрольную?

Look at other dictionaries:

  • Transaction Deposit — A banking deposit that has immediate and full liquidity, with no delays or waiting periods. Transaction deposits can be transferred into other cash instruments, have electronic payments authorized against them, or otherwise be transacted by the… …   Investment dictionary

  • Deposit account — Deposits redirects here. For other uses, see Deposit (disambiguation). Banking A series on …   Wikipedia

  • Transaction —   Each product can have one or more Transactions, e.g. in case of a current account money can be withdrawn or a deposit can be placed.   An ISO term.   ISO Bank Card Originated Messages term. A specific action in support of a business activity.… …   International financial encyclopaedia

  • Deposit — 1. A transaction involving a transfer of funds to another party for safekeeping. 2. A portion of funds that is used as security or collateral for the delivery of a good. 1. This type of deposit is identical to the money an investor transfers into …   Investment dictionary

  • transaction account — A checking or similar account from which transfers can be made to third parties. Demand deposit accounts, negotiable order of withdrawal NOW accounts, automatic transfer service accounts ( ATS account) , and credit union share draft accounts are… …   Financial and business terms

  • transaction — noun 1) property transactions Syn: deal, business deal, undertaking, arrangement, bargain, negotiation, agreement, settlement; proceedings 2) the bank statement records your transactions Syn: debit, credit …   Thesaurus of popular words

  • deposit for collection — A transaction wherein a customer delivers commercial paper to a bank and the bank undertakes as agent for the customer the duty of making the collection. 10 Am J2d Banks § 403 …   Ballentine's law dictionary

  • Banking transaction —   Transactions which involve money. For example: Product Current Account may be link to transaction Deposit . Together these make the banking transaction Deposit to Current Account . See also Bank task, Direct entry, Product and Transaction …   International financial encyclopaedia

  • Federal Deposit Insurance Corporation — FDIC …   Wikipedia

  • Currency transaction report — A currency transaction report (CTR) is a report that U.S. financial institutions are required to file for each deposit, withdrawal, exchange of currency, or other payment or transfer, by, through, or to the financial institution which involves a… …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”